PROGRAMMER'S PARADISE (PROG) Message Board

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Technology Stocks : PROGRAMMER'S PARADISE (PROG)

PROG 0.146

+6.5%

Jun 13 5:00 PM EST

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To: Carl R. who wrote (2176)	4/20/2000 2:39:00 AM
From: Larry Brubaker	Read Replies (1) of 2383

Carl, even the big Daddy etailer, AMZN's last trip to the trough was less than satisfying. The convertible debt they sold has some less than desirable repricing features to it. EGGS's financing was pretty close to a straight floorless. I'd guess EGGS is history once they run out of money again because their current financing should (is) destroy(ing) their stock price even if the changing market climate toward etailers doesn't. And if AMZN is having to go overseas for financing and give up repricing concessions on the debt, I'd guess any of the other piggies at the trough will have similar problems and probably worse. All of this should be good news for a company like PROG that is not bleeding cash and has cash in the bank. A year ago, we were lamenting the market's insatiable desire to throw money at the internuts, and how PROG's problem was that it was profitable. Now PROG's problem is it isn't profitable:-)

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